PlainBillCongress, translated.Legislation. Context. Public interest.Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
Congressional Research Service
Version 00 · Introduced in Senate · May 7, 2025
Right-size the Federal Reserve Act
This bill places restrictions on the Federal Reserve System, including by placing a cap on specified assets, eliminating a Federal Reserve Board facility, and setting forth conditions on bank reserve requirements.
The bill places a cap on the total aggregate assets of all Federal Reserve banks. Specifically, these assets must not amount to more than 10% of the U.S. gross domestic product. This cap takes effect 10 years after the bill’s enactment.
The bill also eliminates the Overnight Reverse Repurchase Facility, a board facility that conducts monetary policy through security repurchase agreements.
The board’s depository institution reserves requirements must not be lower than the reserve requirements as of March 25, 2020. The board and each Federal Reserve bank must annually report on certain interest payments to foreign-owned banks and financial institutions.
People & committees
Sen. Scott, Rick [R-FL] · R–FL
Legislative record
A procedural vote is different from passage. Passage in one chamber does not establish enactment. Explore the glossary.
Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
Introduced in Senate
Primary sources
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No related bills are listed in this snapshot. This does not establish whether the proposal has appeared in earlier Congresses.
Source last updated: Apr 28, 2026. Consult Congress.gov for the current record.
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